Solana Hits 4.7M Wallets and Says "Hold My $75" 🫡

Solana's network activity climbed to an all-time high in recent weeks, with daily active wallets reaching 4.7 million, the strongest level recorded since February. The expansion has been driven by tokenized equities, a surge in xStocks activity and renewed DeFi participation, according to on-chain data.

SOL added 7.48% on Monday, the 29th of June, rising from $69.74 to a session high of $76.49 before retracing to $73 at press time. The move brings the token close to its first green monthly candle after nine consecutive red months, signaling improving buyer confidence.

The token is now testing a major Exponential Moving Average resistance at $75, a level it has struggled to clear since bouncing from $59. A decisive move above that threshold would mark a shift in market structure, with the next area of interest sitting around $83, where previous selling pressure emerged. The $78–$82 resistance zone remains the market's biggest obstacle after rejecting several prior rallies, while $72 is the level bulls must defend to preserve the developing higher-high, higher-low structure.

On-chain data show holder balances rising alongside a drop in circulating supply, a divergence that points to accumulating demand. Solana's Price-to-Sales ratio sits near 2, a level analysts cite as suggestive of undervaluation relative to current trading prices. Stablecoin supply on the network remains elevated, and net bridge inflows, TVL and DEX trading volume have continued to expand, indicating capital deployed into the ecosystem has so far remained in place.